Category: Stock Market

The S&P/ASX 200 Materials Index (ASX: XMJ) is leaping 1.02% today, but this ASX gold share is rocketing far higher.

The Besra Gold Inc (ASX: BEZ) share price soared 150% this morning to 10 cents after emerging from a trading halt before pulling back some of the gains. Besra shares are now up 62.5%.

Let’s take a look at what is going on with this mining share.

What’s going on?

Besra is exploring the Bau Gold Project in the Bau Goldfield in Sarawak, East Malaysia.

Today, Besra advised it has secured a US$300 non-binding drawdown funding facility with major shareholder Quantum Metal Recovery Inc. Quantum is a major gold distributor in Malaysia.

Besra described this as “one of the largest deals of its kind signed by an ASX listed junior”.

The funding will completely fund production at the company’s Bau Gold project.

Commenting on the news, Besra chairman Jocelyn Bennett said:

This funding would completely alter Besra’s trajectory and provides a clear pathway to gold production at the Bau Project.

At a time when access to capital for emerging gold producers is difficult and typically highly dilutive, the Board is very pleased to have removed this impediment to Besra’s growth.

We now have a clear line of sight on commencing production at Bau, with our issued capital intact, as well as recourse to little, if any, debt and the restrictive covenants typically required by lenders.

Besra is planning to update its 2013 feasibility study and expedite plans for production in the 2023 calendar year.

Besra share price snapshot

Besra Gold shares have descended 8% in the last year. In the past month, the gold explorer’s share price has lifted nearly 48%.

This ASX gold share has a market capitalisation of about $23 million based on the current share price. 

The post Guess which ASX gold share is soaring 60% after securing US$300 million appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Boost your passive income with Westpac and this ASX 200 dividend share: experts
• ASX 200 bank shares shrug off global banking turmoil to leap higher
• 2 ASX 200 mining shares to buy with huge upside potential: analysts
• Why is this ASX mining share exploding 57% today?

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) has staged an enthusiastic recovery so far this session, coming after the carnage we saw on the markets yesterday. At the time of writing, the ASX 200 has rebounded strongly,  currently up by a healthy 0.96% at just under 6,970 points. Let’s hope the momentum keeps up.

So let’s dig a little deeper into these pleasing gains by checking out the stocks that are at the top of the ASX 200’s share trading volume charts right now, according to investing.com. 

The 3 most traded ASX 200 shares by volume this Tuesday

Liontown Resources Ltd (ASX: LTR)

First up today is the ASX 200 lithium share Liontown Resources. So far this session, a decent 15.7 million Liontown shares have been bought and sold on the share market. There hasn’t been much in the way of market-sensitive news out of Liontown today – although the company did release an investor presentation this morning.

So it looks like this volume is the result of the volatile session this lithium share has experienced this Tuesday. Right now, Liontown shares have put on a pleasing 2.14% up to $1.53 a share. But this afternoon saw the company drop into red territory, getting as low as $1.46 a share.

Pilbara Minerals Ltd (ASX: PLS)

Next up we have another AX 200 lithium stock, Pilbara Minerals. This Tuesday has had a notable 20.49 million PIlbara shares traded on the markets thus far. With no news at all out of Pilbaarra today, it looks as though its share price movements are again to blame here.

Pilbara hasn’t had quite a bouncy day as Liontown. But this lithium miner has still ricocheted between $3.51 and $364 a share this session. It’s currently up by 2.01% at $3.55 a share. This bouncing around is probably what is behind Pilbara’s high volume figures.

Sayona Mining Ltd (ASX: SYA)

Third and finally today we have yet another ASX 200 lithium stock in Sayona Mining. A whopping 42.63 million Sayona shares have swapped hands as it currently stands. And again, it looks as though these elevated numbers come down to the movements of the Sayona share price itself.

Sayona is another stock that has seen significant volatility today, even going between a gain, a loss and another gain. Right now, the company is ahead by 0.98% at 21 cents a share. But Sayona was up more than 3% at one point today, and down by 1.5% at another. No wonder so many shares have been flying around here.

The post Here are the 3 most heavily traded ASX 200 shares on Tuesday appeared first on The Motley Fool Australia.

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More reading

• These ASX lithium shares are a buy despite explosive supply forecast: UBS
• 1 reason to avoid the stock market, and 3 great reasons to invest today
• Why is the Woodside share price on the move today?
• Buy Pilbara Minerals and this high yield ASX dividend share: analysts
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re looking to boost your income with some ASX 200 dividend shares, then you may want to consider the ones listed below.

Both have been rated as buys and are expected to provide investors with attractive yields in the near term. Here’s what you need to know about them:

QBE Insurance Group Ltd (ASX: QBE)

The first ASX 200 dividend share to consider buying is QBE.

It is one of the world’s largest insurance companies offering a range of products to customers across the globe.

Morgans is very positive on the company and has named on its best ideas list again this month. The broker is attracted to its cheap valuation and positive outlook from rate increases and cost reductions. It said:

With strong rate increases still flowing through QBE’s insurance book, and further cost-out benefits to come, we expect QBE’s earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on 9x FY23F PE.

In respect to dividends, the broker is expecting dividends per share of 83 cents in FY 2023 and 94 cents in FY 2024. Based on the latest QBE share price of $13.90, this will mean yields of 6% and 6.75%, respectively.

Morgans has an add rating and $16.96 price target on its shares.

Westpac Banking Corp (ASX: WBC)

Another ASX 200 dividend share to buy could be banking giant Westpac.

While the banks may not be getting much love right now, the recent weakness could have created a buying opportunity for investors.

Goldman Sachs appears to believe that is the case. It continues to rate Australia’s oldest bank highly and has it on its conviction list. This is due to its belief that the bank can generate strong returns for investors thanks to improving net interest margins and its bold cost cutting plans.

The broker is expecting this to lead to fully franked dividends per share of 147 cents in FY 2023 and 156 cents in FY 2024. Based on the current Westpac share price of $21.52, this will mean yields of 6.8% and 7.25%, respectively.

Goldman has a conviction buy rating and $27.74 price target on its shares.

The post Boost your passive income with Westpac and this ASX 200 dividend share: experts appeared first on The Motley Fool Australia.

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More reading

• ASX 200 bank shares shrug off global banking turmoil to leap higher
• Why I’d be happy to invest in these ASX 200 bank shares today
• How I’d aim to retire rich enough to live on passive income from my ASX dividend shares
• 2 ASX 200 bank shares to buy after the selloff: experts
• ASX 200 bank stocks lift after Credit Suisse share price soars 19%

Motley Fool contributor James Mickleboro has positions in Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) bank shares are shrugging off liquidity concerns that have gripped the banking sectors in the United States and Europe in recent weeks.

Following the collapse of several US banks– including Silicon Valley Bank, formerly the 18th largest in the country – investors are taking heart that the US Fed is stepping in to provide a deep pool of liquidity support for the sector.

The Fed joins the European Central Bank, Bank of Japan, Swiss National Bank, Bank of England and the Bank of Canada in a coordinated action intended to calm financial markets.

This comes atop yesterday’s announcement that UBS will merge with embattled Credit Suisse in a deal backstopped by the Swiss government.

And judging by the performance of the big four bank stocks, these government-engineered efforts are having some success at soothing market jitters.

Here’s how the big four ASX 200 banks shares are tracking in afternoon trade today:

• Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares are up 1.7%
• National Australia Bank Ltd (ASX: NAB) shares are up 1.1%
• Westpac Banking Corp (ASX: WBC) shares are up 2.3%
• Commonwealth Bank of Australia (ASX: CBA) shares are up 1.1%

ASX 200 bank shares aren’t the only stocks rallying today.

At the time of writing the benchmark index is up 1.2%, with the S&P/ASX 200 Financials Index (ASX: XFJ) rallying 1.6%.

Is the ASX 200 bank share party premature?

Today’s rally in ASX 200 bank shares largely mirrors action seen in US and European markets yesterday (overnight Aussie time).

But not every bank is joining in the rebound.

Shares in First Republic Bank (NYSE: FRC) closed down 47% overnight amid investor concerns the $30 billion rescue package delivered by larger US banks last week might not be enough to keep it viable.

Also of potential concern, opposition is growing to the Swiss government-engineered takeover of Credit Suisse.

With Switzerland’s central bank and government backstopping the deal UBS is acquiring Credit Suisse for approximately AU$4.8 billion, paid out to shareholders.

But in contravention of long-standing market rules, the bank’s Additional Tier 1 bondholders will receive nothing, which will see almost $26 billion worth of the debt notes become worthless.

Some bondholders are already considering litigation, and Swiss MPs may also review the deal, which was hastily hammered out over the course of the weekend.

Should the deal unravel, ASX 200 bank shares could join their global peers in a fresh round of sell-offs.

But for now, at least, investors are breathing a sigh of relief.

The post ASX 200 bank shares shrug off global banking turmoil to leap higher appeared first on The Motley Fool Australia.

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More reading

• Forget term deposits and buy these ASX 200 dividend shares: analysts
• Where I would go hunting for defensive ASX 200 shares with upside
• Why I’d be happy to invest in these ASX 200 bank shares today
• How I’d aim to retire rich enough to live on passive income from my ASX dividend shares
• 2 ASX 200 bank shares to buy after the selloff: experts

SVB Financial provides credit and banking services to The Motley Fool. Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended SVB Financial. The Motley Fool Australia has recommended SVB Financial and Westpac Banking. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Australian share market is home to some of the largest mining companies in the world.

In addition, there are countless smaller miners and explorers out there for investors to choose from.

But which ASX 200 mining shares would be great options right now? Listed below are two that analysts are tipping as buys. Here’s what they are saying about them:

Rio Tinto Ltd (ASX: RIO)

The first ASX 200 mining share to look at is Rio Tinto.

This behemoth has operations spanning a number of commodities and geographies. The company explains just where its produce ends up in this summary:

Aluminium for lightweight cars. Copper to help things work more efficiently – from renewables to the power in your home. Iron ore for the steel in our electricity infrastructure. Lithium for electric vehicles and battery storage. And many of the materials we provide are used to make the things in everyday life too: like borates that help crops grow and titanium for paint.

Goldman Sachs is a big fan of the company and has it on its conviction list. The broker currently has a buy rating and $140.40 price target on its shares. This compares nicely to the latest Rio Tinto share price of $115.01.

It is very positive on the company’s medium to long term outlook. It commented:

Over the medium to long run, we think the development of Rhodes Ridge has the potential to be significant for RIO’s Pilbara business as it could lift mine system capacity by >10% to >360Mtpa, utilise spare rail and port infrastructure, and help close the >US$10 FCF/t gap with BHP by US$6-8/t or by >50% by the end of the decade.

Whitehaven Coal Ltd (ASX: WHC)

Another ASX 200 mining share that has been named as a buy is Whitehaven Coal. It is one of Australia’s leading coal miners with operations and development projects in the Gunnedah basin.

Morgans is very bullish on the company and feels that recent share price weakness has created a buying opportunity for investors. It explained:

Ex M&A, WHC looks far too oversold on the recent NEWC correction (FY23F FCF yield +40%, P/NPV 0.69x). We expect the re-tightening of thermal coal pricing dynamics through April to be a key catalyst for WHC.

The broker currently has an add rating and $10.35 price target on its shares. This compares very favourably to the current Whitehaven Coal share price of $6.64. The broker is also expecting a 70 cents per share dividend in FY 2023 and an 80 cents per share dividend in FY 2024. This implies yields of 10.5% and 12%, respectively.

The post 2 ASX 200 mining shares to buy with huge upside potential: analysts appeared first on The Motley Fool Australia.

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More reading

• Buy these ASX dividend shares with 5%+ yields: analysts
• 3 top ASX mining shares I’d buy right now
• How I’d aim to retire rich enough to live on passive income from my ASX dividend shares
• How to generate $500 of monthly income from Rio Tinto shares
• Is it time to buy ASX 200 iron ore shares right now?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 (ASX: XJO) is climbing 0.94% in late afternoon trading, but this ASX mining share is soaring far higher.

The Galileo Mining Ltd (ASX: GAL) share price soared 57% from 54 cents to 85 cents today. However, the company’s share price has since retreated and is up 30% at the time of writing.

Let’s take a look at what is going on with this ASX mining share.

What’s going on?

Galileo shares are soaring today after the company discovered a “new sulphide zone” with a “72 metre drill hit”.

Drilling at the company’s Callisto palladium-nickel discovery within the Norseman project in Western Australia revealed a thick sulphide zone.

Assays from the drilling delivered results including:

• 72 metres at 1.16 g/t 3E (palladium 0.95 g/t, platinum 0.16 g/t and gold 0.05 g/t), 0.2% copper, and 0.24% nickel from 498 metres
• 39 metres at 1.46 g/t 3E (palladium 1.19 g/t, platinum 0.2 g/t and gold 0.06 g/t), 0.26% copper and 0.28% nickel from 503 metres.

The company is already working on more drilling and has $20 million of cash available to fund what lies ahead.

This means Galileo does not need to raise any short-term capital during the “current market volatility“.

Commenting on the results, Galileo managing director Brad Underwood said:

Today’s results are firm confirmation of our view that we have only just started to comprehend the full extent and potential of our Callisto discovery.

To intercept 72 metres of sulphides from our northernmost drill line targeting the centre of the host intrusion is an extraordinary result and a highly encouraging sign for the potential discovery of more mineralisation along strike to the north.

Galileo has five kilometres of prospective rocks to the north of Callisto, Underwood said.

Share price snapshot.

The Galileo Mining share price has returned a mammoth 245% to investors in the past year.

This ASX mining share has a market capitalisation of about $143 million based on the current share price.

The post Why is this ASX mining share exploding 57% today? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 bank shares shrug off global banking turmoil to leap higher
• 2 ASX 200 mining shares to buy with huge upside potential: analysts
• 2 of the best defensive and safe ASX 200 shares to buy now: broker
• 3 high quality ETFs for ASX investors to buy after the market selloff
• Quit your side hustle! Here are 3 rules to build passive income on the ASX instead

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re concerned by the recent market volatility and would like to add some defensive and safe ASX 200 shares into your portfolio, then read on!

Listed below are two ASX 200 shares on the Morgans best ideas list that have defensive qualities. Here’s what the broker is saying about these shares:

Endeavour Group Ltd (ASX: EDV)

This drinks business could be an ASX 200 share to buy according to Morgans. Especially given recent share price weakness, which it believes has shifted the risk to the upside for investors. The broker currently has an add rating and $7.80 price target on its shares and expects a 3.8% dividend yield in FY 2023. It commented:

We believe the share price weakness over the past six months on the back of an uncertain regulatory environment (eg, potential introduction of cashless gaming cards in NSW) has shifted the balance of risks to the upside with EDV’s underlying business remaining strong. The company possesses a broad network of retail liquor stores/hotel venues, well-known brands (eg, Dan Murphy’s and BWS) and dominant market positions.

Wesfarmers Ltd (ASX: WES)

Another defensive ASX 200 share to consider is Wesfarmers. Morgans is bullish on the Bunnings and Kmart owner due to its strong balance sheet and focus on value. It believes the latter is supportive of growth even in the current tough economic environment. The broker currently has an add rating and $55.50 price target on its shares and is forecasting a 4% yield this year. It said:

WES possesses one of the highest quality retail portfolios in Australia with strong brands including Bunnings, Kmart and Officeworks. The company is run by a highly regarded management team and the balance sheet is healthy. We believe WES’s businesses, which have a strong focus on value, remain well-placed for growth despite softening macro-economic conditions.

The post 2 of the best defensive and safe ASX 200 shares to buy now: broker appeared first on The Motley Fool Australia.

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More reading

• These ASX lithium shares are a buy despite explosive supply forecast: UBS
• Invested $5,000 in Wesfarmers shares 5 years ago? Here’s how much passive income you’ve earned
• Here’s how much I’d need to invest in Wesfarmers shares to generate a $150 monthly income
• Morgans names the best ASX dividend shares to buy now
• How much would I need to invest in ASX income shares to earn $500 a month?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’d like to take advantage of recent market weakness to make some investments, but aren’t sure which shares to buy, then exchange traded funds (ETFs) could be good options.

That’s because ETFs let you invest in a large group of shares in one fell swoop. This allows you to diversify easily and spread your risk.

But which ETFs could be buys? Three that are very popular are listed below. Here’s what you need to know about them:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The first ETF to look at is the BetaShares Asia Technology Tigers ETF. It tracks the performance of the largest technology companies that have their main area of business in Asia (excluding Japan). This includes the likes of Alibaba, JD.com, Pinduoduo, Samsung, Taiwan Semiconductor, and Tencent Holdings. BetaShares notes that these companies are revolutionising the lives of billions of people in the region.

BetaShares Global Cybersecurity ETF (ASX: HACK)

Another exciting ETF for ASX investors to look at is the BetaShares Global Cybersecurity ETF. The recent hacks of Medibank Private Ltd (ASX: MPL), Optus, and Latitude Group Holdings Ltd (ASX: LFS) demonstrate just how important cybersecurity has become for businesses. This certainly bodes well for the companies included in the HACK ETF, which are the global leaders in the field. Among the ETF’s holdings are companies including Accenture, Cisco, Cloudflare, Crowdstrike, Fortinet, Okta, Palo Alto Networks, and Splunk.

VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)

A third and final ETF for investors to look at is the VanEck Vectors Morningstar Wide Moat ETF. If you’re a Warren Buffett fan, then this ETF could be the one for you. That’s because this ETF aims to invest in a group of fairly valued companies that have sustainable competitive advantages. These are qualities that the Oracle of Omaha looks for when he invests. Among the ~50 shares included in the ETF are the likes of Adobe, Alphabet, Amazon, Boeing, Constellation Brands, Microsoft, and Walt Disney.

The post 3 high quality ETFs for ASX investors to buy after the market selloff appeared first on The Motley Fool Australia.

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More reading

• 3 reasons not investing at all could be riskier than trying to invest
• Investing as little as $25 a week could help me retire with $104,000 a year in passive income!
• 3 excellent ETFs for ASX investors to buy for the long term
• 3 ETFs for investors to buy and hold for a decade
• I’d aim for $1 million, thanks to just a few ASX shares

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended VanEck Vectors Video Gaming And eSports ETF and VanEck Morningstar Wide Moat ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Are you slogging away at job after job in an effort to bolster your income? There might be a better way. I think I could begin to replace my part-time earnings with passive income by investing in ASX dividend shares.

And building passive income on the stock market doesn’t have to be a complicated – or overly risky – endeavour.

Here are three simple risk-reduction rules I would follow if I were aiming to replace my side hustle with dividend income.

3 ASX passive income rules to help you ditch your side hustle

1. Diversify

The first rule I would consider is arguably one of the most touted: diversification.

A diverse portfolio provides incomparable protection against downturns in any single sector, industry, or stock. It also provides better exposure to sectors, industries, or stocks that outperform the rest.

Indeed, research has shown the majority of the ASX’s gains come from just 4% of shares. I believe that a diverse portfolio has a better chance of being on board the market’s few major winners.

Diversifying also means an investor isn’t reliant on any one sector, industry, or stock for their passive income.

2. Consider the market’s cyclicality

I’ve said it before and I’ll say it again: past performance doesn’t indicate future performance. However, the economy (and, as an extension, the market) does operate in cycles.

Thus, my second rule is to consider the economic cycle and the impact it might have on your passive income stream.

Some ASX shares or sectors tend to outperform others when the economy is booming. On the other hand, some typically find better support during a recession. Others are resilient to both.

If an investor is particularly risk averse, they might turn to defensive ASX stocks when building passive income. Another investor with a greater risk tolerance might lean into cyclical shares for the same purpose.

3. Allocate assets strategically  

Finally, I advise passive income investors to consider where all their assets sit at any given time. Cash included.

It might be tempting to tip all your spare coins into an ASX share you feel could provide mountains of passive income.

However, having liquid funds like cash on hand in an emergency (or upon the arrival of an unexpected bill) is paramount.

With interest rates on the rise, it isn’t a bad time to allocate a little more to a ‘just in case’ savings account anyway.

The post Quit your side hustle! Here are 3 rules to build passive income on the ASX instead appeared first on The Motley Fool Australia.

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More reading

• 3 high quality ETFs for ASX investors to buy after the market selloff
• Why Domino’s, Incitec Pivot, Mincor, and New Hope shares are racing higher
• The Mincor Resources share price is skyrocketing 42%, what could be next for this ASX mining share?
• These ASX lithium shares are a buy despite explosive supply forecast: UBS
• Why A2 Milk, Accent, Northern Star, and Select Harvests shares are dropping

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and is storming higher. At the time of writing, the benchmark index is up 1.25% to 6,983.9 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price is up 5% to $48.41. This appears to have been driven by a note out of Barrenjoey this morning. Its analysts believe that the pizza chain operator’s shares have dropped to an attractive level and upgraded them to an overweight rating from neutral.

Incitec Pivot Ltd (ASX: IPL)

The Incitec Pivot share price is up almost 4% to $3.24. Investors have been buying this industrial chemicals company’s shares after it announced an agreement for the sale of its Waggaman operation in the United States to CF Industries for A$2.5 billion. The company expects to bank after tax cash proceeds of A$1.25 billion from the sale.

Mincor Resources NL (ASX: MCR)

The Mincor share price is rocketing 42% higher to $1.47. This follows news that Twiggy Forrest’s Wyloo Metals business has made a takeover approach for the nickel producer. Wyloo has tabled a $1.40 per share offer, which values the company at $760 million. Clearly, based on its current share price, the market believes an even better offer is coming.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price has jumped 9% to $5.34. Investors have been buying this coal miner’s shares following the release of its strong half-year result. New Hope reported the doubling of its net profit after tax to $668.6 million, which allowed it to lift its interim dividend by 76% to 30 cents per share. A special 10 cents per share dividend was also declared.

The post Why Domino’s, Incitec Pivot, Mincor, and New Hope shares are racing higher appeared first on The Motley Fool Australia.

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setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• The Mincor Resources share price is skyrocketing 42%, what could be next for this ASX mining share?
• New Hope share price rockets 6% as half-year profits double
• This ASX 200 share is charging higher on $2.5bn asset sale news
• Guess which ASX All Ords mining share Fortescue’s Twiggy Forrest is eyeing off for $760m
• Guess which ASX 200 coal share just posted a 100% profit jump

Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises. The Motley Fool Australia has recommended Domino’s Pizza Enterprises. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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